City receives capital credit check

Published 10:32 am Friday, November 4, 2016

: The city of Albert Lea was recently presented with capital credit checks from Freeborn-Mower Cooperative Services. As a cooperative, Freeborn-Mower operates as a not-for-profit utility. This is accomplished by allocating and retiring excess margins which is called capital credits. The allocation is in proportion to the amount of the members patronage. City Manager Chad Adams accepted the check in the amount of $10,017.68 from Mike Murtaugh, director of energy services at Freeborn-Mower. - Provided